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United States Power EPC Market Size, Share, Growth, Analysis: By Type: Thermal, Oil and Gas, Renewable, Nuclear, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators of Demand, Key Indicators of Price; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
United States Power EPC Market Outlook
The United States power EPC market size reached USD 28.59 billion in 2023. The market is expected to grow at a CAGR of 5.1% between 2024 and 2032, reaching almost USD 45.12 billion by 2032.
Key Takeaways:
- The United States has an extensive power generation capacity, featuring over 1 million megawatts interconnected by 600,000 miles of transmission lines. Recent investments in grid modernization have significantly enhanced the system's intelligence and resilience, driving forward the US power Engineering, Procurement, and Construction (EPC) market.
- As per industry reports, in 2020 alone, investments in wind and solar energy totalled USD 55 billion, with planned deployments of 7.6 gigawatts (GW) of wind and 21.5 GW of solar slated for 2022, as reported by the Energy Information Administration (EIA). Government funding continues to support various transmission projects aimed at bolstering the nation's grid infrastructure.
Lockdown measures implemented by the US government in response to the COVID-19 pandemic temporarily reduced electricity demand in commercial and industrial sectors in the first quarter of 2020. Despite this, the United States power EPC market is poised for growth driven by increasing power generation capacity and government support for electricity infrastructure development.
The US Department of Energy's (DOE) "Building a Better Grid Initiative," launched in January 2022, aims to accelerate the nationwide deployment of new and upgraded high-capacity electric transmission lines. The US boasts a substantial power generation capacity, with over 1 million megawatts connected to 600,000 miles of transmission lines. Recent investments in grid modernisation have made the system smarter and more resilient, further propelling the US power EPC market forward.
Investments in wind and solar energy reached USD 55 billion in 2020, with planned deployments of 7.6 GW of wind and 21.5 GW of solar in 2022, according to the Energy Information Administration (EIA). Government funding supports various transmission projects to enhance the nation's grid infrastructure.
The US Power EPC market encompasses diverse projects, including thermal power plants, renewable energy installations, and transmission networks. EPC contractors oversee the entire project lifecycle, from design to commissioning.
Factors driving the US power EPC market include increasing energy demands due to population growth and industrialisation, government initiatives promoting renewable energy, technological advancements, supportive policies, the need to modernise ageing infrastructure, and environmental concerns about reducing carbon emissions while driving the United States power EPC market development.
Market Segmentation
United States Power EPC Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Thermal
- Oil and Gas
- Renewable
- Nuclear
- Others
Market Breakup by Region
- New England
- Mideast
- Great Lakes
- Plains
- Southeast
- Southwest
- Rocky Mountain
- Far West
Competitive Landscape
Key players in the power EPC market in the United States through technological innovations and increasing investments offer products and services to support the end users.
- Bechtel Corporation
- Mitsubishi Heavy Industries, Ltd.
- DEPCOM Power, Inc.
- McDermott International Ltd.
- Fluor Corporation
- Blue Ridge Power
- Quanta Services, Inc.
- The Shaw Group Inc.
- Sentry Electrical Group, Inc.
- Blattner Energy Inc.
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Power EPC Market Overview
8.1 Key Industry Highlights
8.2 North America Power EPC Historical Market (2018-2023)
8.3 North America Power EPC Market Forecast (2024-2032)
9 United States Power EPC Market Analysis
9.1 Key Industry Highlights
9.2 United States Power EPC Historical Market (2018-2023)
9.3 United States Power EPC Market Forecast (2024-2032)
10 United States Power EPC Market by Type
10.1 Thermal
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Oil and Gas
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Renewable
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Nuclear
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 United States Power EPC Market by Region
11.1 New England
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Mideast
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Great Lakes
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Plains
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Southeast
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Southwest
11.6.1 Historical Trend (2018-2023)
11.6.2 Forecast Trend (2024-2032)
11.7 Rocky Mountain
11.7.1 Historical Trend (2018-2023)
11.7.2 Forecast Trend (2024-2032)
11.8 Far West
11.8.1 Historical Trend (2018-2023)
11.8.2 Forecast Trend (2024-2032)
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Bechtel Corporation
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Mitsubishi Heavy Industries, Ltd.
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 DEPCOM Power, Inc.
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 McDermott International Ltd.
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Fluor Corporation
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Blue Ridge Power
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Quanta Services, Inc.
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 The Shaw Group Inc.
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 Sentry Electrical Group, Inc.
13.2.9.1 Company Overview
13.2.9.2 Product Portfolio
13.2.9.3 Demographic Reach and Achievements
13.2.9.4 Certifications
13.2.10 Blattner Energy Inc.
13.2.10.1 Company Overview
13.2.10.2 Product Portfolio
13.2.10.3 Demographic Reach and Achievements
13.2.10.4 Certifications
13.2.11 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Power EPC Market: Key Industry Highlights, 2018 and 2032
2. United States Power EPC Market: Key Industry Highlights, 2018 and 2032
3. United States Power EPC Historical Market: Breakup by Type (USD Billion), 2018-2023
4. United States Power EPC Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. United States Power EPC Historical Market: Breakup by Region (USD Billion), 2018-2023
6. United States Power EPC Market Forecast: Breakup by Region (USD Billion), 2024-2032
7. United States Power EPC Market Structure
Key Questions Answered in the Report
The market is estimated to be valued at USD 28.59 billion in 2023.
The market is projected to grow at a CAGR of 5.1% between 2024 and 2032.
The power EPC market is expected to witness significant growth to reach USD 45.12 billion in 2032.
The market is categorised according to its type, which includes thermal, oil and gas, renewable, nuclear and others.
The key market players are Bechtel Corporation, Mitsubishi Heavy Industries, Ltd., EPCOM Power, Inc., McDermott International Ltd., Fluor Corporation, Blue Ridge Power, Quanta Services, Inc., The Shaw Group Inc., Sentry Electrical Group, Inc., Blattner Energy Inc., and others.
The market is driven by factors that include increasing energy demands due to population growth and industrialisation, government initiatives promoting renewable energy, technological advancements, supportive policies, among others.
The power EPC market is categorised according to its region, which includes New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
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